welcome to "street signs." i'm willem marx. here are your headlines. the risk-on sentiment feeds into bond markets with european peripheral yields dropping to new lows stocks hold on to modest gains after the s&p 500 hits a fresh record high. the u.s. government ramps up pressure on europe and threatens $4 billion in additional tariffs. oil prices reverse course to extend gains between opec and

non-opec allies. >> we are already seeing demand pick up, refineries that had been in maintenance have come back we inventory data out of the u.s. prove what i said, that demand is picking up shares in funding circle plunge after the online lending platform cuts its full-year revenue forecast in half and blames softer demand for loans as we mentioned, it's been an interesting day for european bond yields. you can see the italian, spanish and portuguese there, they're all at record lows really significant numbers if you think about the context. over the last ten years, in germany the negative yield rising slightly back towards

zero down still at 0.36%. you can see the ftse 100 is in positive territory up 0.5%. similar story with the ftse mib. in germany and france, both of those indices slightly below the flat line. let's look at the u.s. markets over the course of yesterday we saw extraordinary numbers with the s&p 500 hitting a record high the dow jones also up more than 0.4% the nasdaq trading 1% higher as those tech stocks get a bounce off the back of that easing of trade tensions between the u.s. and china. president trump says that those trade talks with china have restarted after his meeting with the chinese leader, xi jinping trump says negotiations via telephone had essentially already begun and insisted any future deal would tilt in favor of the u.s if we see the impact today on

the asian markets, in japan, the nikkei 225 trading higher at the close. hang seng up 1%. the shanghai comp not doing so well today, slightly below the flat line at the close the kospi trading around a third of a percent lore after that meeting between trump and kim jong-un. trump said he remained optimistic he would be able to strike a deal with xi jinping. >> i expect him to move. if he doesn't move that's okay i'm happy either way i think we have a good chance of making a deal. i think they want to make a deal many companies are leaving because of the tariffs they don't want to pay the tariffs. they're moving to vietnam. some are moving back to the united states. the chinese premiere said increased trade tensions have pushed up risks to the global economy. during a speech, li said china will continue to try to open up

its manufacturing sectors. he also said beijing is moving forward with loosening ownership limits for foreign investors. >> translator: in some key areas, restrictions on foreign ownership will be eased. at the same time we will open up financial services and market services we will move up the lifting of foreign ownership caps in securities, futures and life insurance from 2021 to 2020, one year ahead of schedule >> geoff cutmore is there. he has been hearing some of those comments from premiere li. is this anything new >> the honest answer to that is no that's one of the challenges here, i think. if you attended many of these meetings, you would have heard chi nese officials over the year

say we are going to continue to open the economy, we are focused on growth rates, we believe in a multilateral world, we believe in open markets, a lot of companies that have to do business here know it's still a challenging place to operate if you're a foreign company, and you don't necessarily get access to many parts of the economy so the question is should we believe the lines this time around one or two guests that we've been speaking to here do feel that there is increased pressure on the chinese now to seriously go about some of these steps of opening access to parts of the economy like financial services and manufacturing. so at that level at least i think premiere li was hoping to keep some of the momentum that came out of that g20 meeting one of the other big issues has been around technology

huawei put technology in focus in terms of the u.s./china trading relationship concerns expressed here that increasingly that is going to lead us down the road of competing technology worlds. the western u.s. centric world and the chinese world. i want to play you a bite from an interview we deid earlier in the day with martin frick. let's hear what he had to say about the challenges of the potential risk >> it's a strange development. technology is becoming more global so many of the things we now have in place enable us to be global players at the same moment the players become more domestic this trend is not only in china, but also in singapore. we have five or six players that

you can only use in singapore. completely contradicting over time this will open up again because one of the problems we face is that there is no stringent regulations across the borders i think once this gets aligned, then we will also have a better consumer experience and we'll be able to use the same technology, same players, same brands across many, many markets >> so, our friend putting a more upbeat spin on it. he thinks things will come together ultimately, as we know with this story, many roads lead us back to the china/u.s. trading relationship until we see a significant resolution of the current impasse, it's not enough to just talk here. we need to see some deals done and actually this security issue with technology put to bed until that happens it's hard not

to see two worlds growing separately and continuing to compete but not integrated back to you. >> geoff, thank you very much for that speaking of that rift in technology between china and u.s. technology, huawei will wait to see if they can use the on dro android systems in new phones. trade is still in focus because the u.s. trade representatives offi offi office warned it could impose tariffs on 4 additional billi$4o worth of eu-produced goods the tariffs would include italian cheese, olives, pork sausages, coffee, sadly for someone like myself, scotch

whiskey. the world trade organization has ruled that boeing and its european rival, airbus, have received illegal state support eu leaders are arriving for a complicated dance, that's the third day of meetings after failing to reach agreement on who should take the top job. silvia is still there waiting, she's hoping to speak to some of those european leaders is there any acknowledgment that the system is if not broken then at least flawed? >> well, the french president, emmanuel macron, said yesterday when he left this building that it's perhaps time to consider this election process and to reform it. let's explain the process. when the eu needs a new president for the european commission, that person needs to be approved by the 28 heads of state here at the european

council. but then that person, that name also needs to be approved in the european parliament. and because the european elections at the end of may led to a very fragmented european parliament, getting this double majority the same name approved in the council and in the european parliament has become more complicated i'm afraid even macron's calls for reforming this process are just too late for at least this political cycle and there is a lot of pressure on the 28 heads of state to come up with an agreement. actually macron also said yesterday that if the eu fails to approve a new leadership, the question of the eu's credibility is at stake. because when the eu then tries to seek agreements at the international stage when it comes to eu environment or trade, then the image that the

eu cannot find an agreement between themselves doesn't look very, very good. let's see whether they manage to have a break through today the czech prime minister has arrived here the danish prime minister as well they're about ready to meet in about an hour's time we will find out today whether or not we get a name for the next european commission president today. >> we'll be waiting to find out. thank you for that coming up, opec extends production cuts without complications. we'll cross live to vienna for the latest information on that when we come back. we call it the mother standard of care.

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an interesting day for wti and crude. yesterday when you look at the oil prices in response to what opec decided to do, crude right now trading off its highs after it rose more than 1% in the session yesterday. you can see that spike over the course of the month of june, in particular rising up to this

next session that followed opec's decision to extend production cuts for a further nine months. brent down this morning. this is something that will be a real focus over the next nine months, typically going into the start of the year you do have a bit of softness when it comes to global demand for oil. what will be interesting, based on the decision they made he yesterday, is the idea that this nine months would extend past that point, that concern about softness we're joined by dan murphy, my colleague in vienna. you've been talking to system of the major players at the opec meeting. what's been the general consensus about this production cut extending for nine months? what's the reasoning behind it as far as they're concerned? >> we're coming to you live from outside opec headquarters in vienna behind me there's a group of journalists awaiting the arrival of a lot of these ministers.

this is more of a formality than anything else. remember, we did see these ministers coming to an agreement for an extension, not only for the rest of the year but a current opec deal but for the first quarter of 2020 as well. that's highly significant for the markets. a few moments ago we heard from the saudi oil minister as he was making his way into the meeting. listen in to what he had to say as the meeting gets under way. he sounds confident this deal will be ratified >> unequivocal in terms of commitment by all members, countries to actually meet obligations. that's one unequivocal in my confidence in where the market is going. i see demand picking up strongly in the second half of the year i see compliance greatly improving. i see the length of this agreement as nine months sufficiently long to bring inventories down and to balance

the market so i'm very positive, very optimistic i think we're in a very good place. >> the saudi energy minister speaking just moments ago as he made his way into day two of this opec meeting. you might have noticed oil prices are slightly lower today. that's because this was a well-telegraphed response. we did see this handshake taking place in osaka, that means the market was well prepared for what was to come you can see over my shoulder more ministers making their way into the building now. what's interesting is when it comes to the overall deal, were, there was conformity, on the opec charter, not so much. that's because the ministers were concerned about exactly how this deal came to be as i mentioned, a handshake in osaka, rather than an actual deal being made in vienna. we heard criticism from it the iranians about that. the iranian energy minister concerned about the influence

that saudi arabia and russia have over the overall decisionmaking process it did appear that the ministers were come to some kind of consensus last night on the opec charter. a number of other things were agreed to including the extension of mohammed barkindo's contract as secretary-general and to hold a committee meeting in september in abu dhabi. that's their next opportunity to review this deal and to see how it's translating into oil prices i will leave it here we'll go back inside the meeting and get you the latest information. >> dan, appreciate the update. thank you very much for joining us. share price has plunged after halving their full-year revenue guidance the lending platform blamed economic uncertainty, and that in turn led to the lower

revenues ab inbev is looking to lend up to 9$9.8 billion from a hong kong business. it will sell shares between 40 and 47 hong kong dollars a pop that would beat out uber's listing on the new york stock exchange earlier this year. wpp is in talks to sell its majority stake in kantar, that involves bain capital. it stressed there was no certainty that a transaction would actually happen. if you see the share price on the back of that news, it's lower today, down by 1.75% it's seen a 19.5% increase over the last three months. deal talks have been ongoing

there, and the company heard from several private equity firms before proceeding to a second round of bids in may. my colleague asked about the bid process. >> it's been an energizing process. we're all excited about it we're excited about the opportunities it would bring there's a couple buyers who have been incredibly engaged. we spent a ton of time with them they have a good sense of what life would be like with them as partners and shareholders. we think there's a lot we could do in that kind of setup that we couldn't do within wpp we're all excited about it >> let's look at the banking sector deutsche is in talks with regulators about reducing its ceti ratio they have discussed the plan with bafin and the ecb in the uk, one in three

vacant shots will be repurposed into hotels, gyms and restaurants. that's amid falling rents and rising online competition. the golden age of online shopping could be coming to an end giving retailers an opportunity to reimagine the physical shopping experience dan simms joins us now from collier's age. why is the golden age of online shopping coming to an end potentially? >> we've seen over the last decade or so this tide of online shopping everyone's assumption that it will kill the high street. it looks like it's a process that won't stop, but we're starting to see big challenges around online shopping, particularly how retailers can make money from this model it's a very intense delivery model. there's a lot of returns lots of retailers are not making

much money we're starting to see retailers move to ending what everyone loves about free delivery and free returns that will start coming to an end people like asos are starting to blacklist customers who order multiple items and return lots of items we're seeing lots of change in that area and we're seeing fundamentally plateauing in sales. food sales have been at the same level for the last three years fashion sales have plateaued as well >> is this enough? the damage, the limits, the caps on online retail, is it enough to stop the death of the uk retail when it comes to high street >> i think death is a greatly exaggerated word for it. there will be profound changes we're part way through that already. the move to a significant degree of online shopping has already made some big changes. fundamentally there's now too much shopping. if you remove 20% of your sales out of high street, you'll have too many shops that's where we sit today.

we're going through that process of changing that stock to something else >> give viewers a sense of the vacancy rates on the uk high street and how representative is that of the reality? is it underreporting the malaise? >> on the numbers that we collect, there's about 11% of the stock currently vacant there are stores that are going to leave there are stores running under cva provisions who are technically vacant or will become vacant. the overall picture is larger than that. that's a significant number. the 11% alone is 13 million square feet of space we think a lot of that space won't be returned to retail use. it will need to be something else >> that's the vacant space let's look at the space still being used how much less are landlords getting? >> the picture over the last ten years or so is grim reading for rents. the rents bhe s remeasure outsif

central london is now 30% below where it was in 2008 if you take into account inflation, it's hatch lf of whet was in 2008. >> let's consider the vacant and the used spaces. we're seeing more flexibility in leasing contracts, much lower rates. does this make it more attractive for nonretail operators to try to take those spaces how much more attractive is it >> i think it's fundamentally changed. there's lots of space where the retail rents are lower, we're starting to see lots of other uses, particularly hotels, gyms, residential uses start to take up lots of that space. that's exactly what the market needs. >> i want to go back to the online space what i find striking is the fact that british consumers seem much more keen about buying online than other developed nation customers. is there any structural reason

for that has the high street failed historically and that's why people have been more keen to buy online >> there's lots of factors we're a nation of early adopters we're tech savvy we developed a mobile and broadband off early competitors, the tools to buy online were in this country very early. at the same time we're a crowded country. car parking costs are expensive now to get into the town centers to shop. all those factors contributed to some quick and early adoption. >> i love in central london. i don't know about you, every time i walk down a street i see piles and piles of cardboard outside of peoples homes, whether that's from amazon or other online retailers is that environmental cost one of the limitations on this sector continuing to grow? >> i think it is i think that's an area that's moving very, very fast now the issue of sustainability and environmental costs of

deliveries and returns and delivery miles is really starting to click with the consumer that's a very resent thing consumers are starting to not like the story around extensive delivery miles, things being delivered back, being repackaged and set out elsewhere. >> there's a few examples where you have an online focused retailer expanding into a bricks and mortar operation, perhaps the best known is amazon buying up whole foods for you in the real estate sector, does that development give you a smile inside? >> yes it's encouraging what that shows is an online-only platform can only take you so far the physical platform gives you brand presence, the ability to get a click and collect offer, that's what we'll see more of. as retailers starts to not want to send you things for free, they'll start asking you to pay for delivery, pay for returns, or alternatively go to the local

store and pick it up and return it we'll start to see some balance in the market between physical and online stores >> interesting conversation. thank you very much for coming in coming up on the program, a night of violent protests. we cross live to hong kong for the latest this morning on the fight against a controversial extradition bill i have one kid in each branch of the military, but i'm command central. it's so important to us that verizon is supporting military families. when i have a child deployed, having a reliable network means everything. so, when i get a video chat, and i get to see their face, it's the best thing in the world. and i've earned every one of these gray hairs. military moms, we serve too. (vo) the network more people rely on, gives you more. like military plans with a special price on unlimited, $100 per line, and big savings on our best phones when you switch. that's verizon.

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welcome back to "street signs. i'm willem marx. the risk-on sentiment feeds into bond markets with european peripheral yields dropping to new record lows while stocks hold on to modest gains after the s&p 500 hits a fresh record high. the u.s. government ramps up pressure on europe and threatens $4 billion in additional tariffs over eu aviation subsidies. oil prices reverse costs to extend gains, and saudi arabia's energy minister says he is confident for getting a deal for nine months.

>> i see demand picking up strongly in the second half of the year i see compliance greatly improving. i see the length of this agreement, nine months, sufficiently long to bring inventories down an balance the market. calm returns to hong kong after protests turn violent overnight with demonstrators storming and then ransacking the legislative council building bad news for sentiment when it comes to uk data. the uk june construction pmi is o out. it's significantly lower than the roirt the reuters expectation of 48.3.

the current number is 43.1 house building was down to a three-month low. total new orders declined back in may remember, uk manufacturing yesterday, the pmi for that fell to 48. that was the lowest in about six years. so not very positive news for the european construction sector based on sentiment let's look at the european markets. ftse 100 still trading higher. up by a quarter percent. in germany, the dax in negative territory. cac 40 trading lower the ftse mib is slightly higher by a third of a percent. let's look at the currency markets. the pound is trading off bay fifth of a percent against the

u.s. dollar. the euro is slightly stronger against the dollar you can see that dollar weakness against the yen, against some slightly mixed messages from the dollar swiss cross there that's been a safe haven move for investors over the last few days it seems to be falling back slightly let's look at u.s. futures before the markets on the other side of the atlantic open up we had that record day yesterday, it looks like a negative start so far. the implied open down more than 5 points for the s&p dow jones and nasdaq looking to open lower the smi is higher despite a ban on the trading of swiss shares on eu-based exchanges that came into effect yesterday. a number of swiss blue chip stocks including nestle, novartis and credit suisse traded at below average volumes across a variety of platforms. higher activity is registering on the domestic market as invest

adjust to the new rules. bern and brussels have halted trading on boarders after a standoff over their partnership treaty cnbc was told why swiss lawmakers have not been willing to cede ground in their talks with brussels. >> i think europe is not necessarily very understanding, the swiss political system, which is a democracy the swiss government cannot agree on anything without going to referendum in switzerland so they have to find an agreement with europe that will pass the referendum. the swiss population is like the uk population, they want to control, there is a protectionism there of agricultural goods, things like that so the swiss government is doing its best to find a deal that will please europe but also please swiss people. >> huawei says it will wait for the u.s. department of commerce

to advise whether it can use google's and troroid system in s new range of smartphones over the weekend president trump said he would allow firms to sell products to the telecoms giant. florida senator rick scott said he thinks a trade deal with china is unlikely. i don't believe there will be a deal think about this, they're stealing technology, they negotiate a deal and walk back how many times do you do a deal, negotiate the deal, walk back and the deal never closes. they steal technology. they won't open up their market. they're militarizing the south china sea. they're involved in venezuela where maduro is killing his citizens i don't believe there will be a deal clearly there's no way we'll allow huawei to sell into the american market from a national security perspective >> tina fordham joins us now

you heard senator scott, he doesn't think there will be a deal what does that mean for president trump if there is no deal >> i'm not sure that's what senator scott was saying i agree with his view that we shouldn't expect a deal any time soon maybe one way to think about the tactics for the white house, if i date myself when i say it, is peanuts. where lucy is holding the football and charlie brown goes to kick it and he pulls it away. this is what we sea periodically, to promise something, then take it away whether it's a good promise or a punishment the fact is that the political calculus for the trump campaign favors a deal much closer to the time of elections. and i think we still have 493 days to go or something like this so, markets, as they so often do, are getting ahead of the politics by focusing on the

trump put, the expectation that trump will do what's right for the markets. he's hoping he has some goodwill in the bank as it were with investors, with the street, because for voters they will want good news closer to november 2020. americans don't really start thinking about elections let alone making up their minds until much closer to the time. so we're more than a year away from that point. >> with that in mind, 493 days to go -- >> ish >> give or take a few days president trump says he has helped the u.s. economy. obviously the american economy is ticking along relatively well, but there's a long way to go until november. if that changes, how much of a help or a hindrance is a strong economy for an incumbent president historically >> historically a strong economy

was one of the most important factors in any election forecasting model. you would take the performance of the economy, compare that to four years ago, year-on-year, the usual stats, employment, inflation, presidential approval ratings, and, bang, that was your presidential forecasting model. that started to break down in 2008 one consequence s of polarizatio means if you're a democrat in the united states right now, you don't credit president trump with the performance of the economy or the stock market, you say president obama started that it means that that doesn't really change voting behavior. one of the other things we know is people who are happy with the status quo are less likely to good out and vote. but they're less motivated which is where the culture issues always come in in the united states. >> you mentioned president obama. let's talk about potential successes as democratic presidential candidates debating

last week. >> how long have we got? >> there's a lot to get through, right? any policy ideas that you're hearing from these candidates this far out from election day, "a," relevant, "b"," realistic i congress doesn't end up with a significant democratic majority in the senate? >> first of all, it's not in the interests of any candidates to sort of overdefine their policy positions, because all it's likely to do is lose them voters at the moment we have a spectacular exception to this rule in the form of elizabeth warren you can already see the jokes on twit twitter. the democrats tend to lose on policy, right? here's where this sort of charismatic and relatable side of candidates comes in of course there's also events,

circumstances, famous lines in the debates which are decisive after the first set of debates, you've seen some movement in the polls. the front-runner, joe biden, got knocked down a bit this is textbook and completely standard there are 25 others who will see changing places over the next few months the primaries are not until january. >> okay. let's say we can't see much detail from democratic candidates when it comes to positions between a democratic president and this republican president on issues like healthcare, will you see massive differences that investors and that business can expect this far outdo you think? >> first i hate to break it to you, it won't be purely the brilliance of their policy positions which determines how they rise and fall in the polls. it is all those other personal factors. fund-raising

fund-raising is one of the key barometers, that's why you see all of these candidates getting out there, micro targeting to get small donations and the roll of social media. that matters actually more to how we get to that short list than -- >> that's ahead of the election. after the election, if you have a democrat in the white house how different would it be when it comes to big policy areas >> let me tell you what my non-u.s. investors ask me. is america going to return to being a normal country again >> u.s. invest and americans in general laugh at that statement. this is how it goes. will we see something more normal particularly in europe, where it's come as a shock to the united states traditional allies in europe, japan, south korea as well, to be on the wrong end of

these tariffs and other penalties from the united states a democrat in the white house would mean a return to the pre-trump status quo we will see healthcare technology being front and center one other obvious points compared to 2016, when bernie sanders was competing with hillary clinton, and we ended up with hillary clinton as the democratic candidate, much more centrist established candidate, a lot of bernie sanders positions have moved to the mainstream they've been normalized. that signifies a change not just for this election but for the next several and more distance between republicans and democrats than we were used to in the clinton era >> thank you very much for

coming in. interesting conversation that was tina fordham from citi joining me here in the london studio talking all things u.s. politics, in particular some differences between the democrats and republicans ahead of the 2020 election, order has been restored in hong kong after a night of protests. the legislative council building was stormed on the ape vernnivey of the country what has been the aftermath been like, chery? >> you say order has been restored which is true, but lots of scars that we are seeing around this legislative council area it was certainly a handover anniversary that will go down in hong kong's history with a lot of violence to be remembered

and we see clolots of broken gls pieces the main entrance of the building completely destroyed because of the vandalism, this violence that we saw with this small splinter faction of anti-hanti anti-extradition bill protesters yesterday. the president of the legislative council in hong kong says he expects no legislative meetings to happen for the next two weeks or so, calling this area "a crime scene. and we do see police officers gathering evidence, starting their investigation the day after. lots of voices condemning this ve violent behavior the hong kong government itself, the legislative body itself. but also business communities as well including amgen hong kong saying it's very much respectful

of this idea of freedom of expression, but it does not condone any acts of violence remember, this is a body that was quite critical of the hong kong government's initial move to push through the controversial extradition bill, so given yesterday's development, certainly the narrative has changed in terms of criticizing what some, this small faction of young protesters ended up deciding to do this handover demonstration yesterday involving 500,000 people on the streets of hong kong was very much peaceful. it was ten times bigger than last year's turnout. so it goes to show how there is that support coming from the larger part of the hong kong public, calling for the -- calling against this extradition

bill, and also lots of calls for resignation of a chief executive, carrie lam. the question moving forward is the future of carrie lam will she end up giving more concessions given the latest development or will she turn to more tear gas and keeping to the same mind that she won't revive this legislation bill. looking at the protesters movement, which has been quite organic, i should say, until now, but of course this violent behavior that we saw from some faction is going to certainly throw into question their sustainability moving forward. back to you. >> chery, thank you for those details. to brussels now where the european council building is ground zero for a meeting of european leaders that is the german chancellor,

angela merkel arriving to talk to some members of the media ahead of another round of meetings to try to decide who will end up leading the yurp peen commission. she's already given up on her candida candidate. she's talking there to the media in german about what her position may look like ahead of today's meetings we'll check in on what's going on with european yields. interesting time in europe the ten-year gilt in the uk is yielding 0.775 another geopolitical story worth looking at is in italy, the ten-year btp is down to 110.9. that follows on from that

difficult period last may when the italian government, the coalition partners were negotiating terms. it looked like they might struggle to come up with an agreement that would allow them to form the coalition that now exists the government there has approved a 1$1.5 billion euro bill to bring down its public deficit and to avoid eu sanctions. rome is planning to reduce its deficit from 2.4% to 2.04% of p gdp. the commission will decide on whether to pursue that, but it seems like the moderates there, people like giuseppe conte, the finance minister seem to have triumphed by moving that target number down. you can tweet us at @streetsignscnbc.

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welcome back to "street signs. eu leaders are arriving for a third day of meetings after failing to reach agreement on who should take the block's top jobs that's the chancellor coming to talk to some media members before going into that meeting inside the european council buildin building >> we're not looking for the superstar. i think it's important to find a balanced package where everybody can agree on it. it's not one against the other it's how we can find the package where the biggest support from

our european parliament is coming out >> who is the new favorite >> she was for me having an important role in european elections. we can't exclude her >> iran says it has exceeded the limit of enriched uranium it's allowed to stockpile under the nuclear agreement struck back two years ago. the country's foreign minister said actions by the europeans have not been enough he warned that tehran remains on track to raise its enrichment level even further reacting to that development, president trump suggested that iran is making some dangerous moves. >> they know what they're doing. they know what they're playing with i think they're playing with fire no message to iran whatsoever.

>> it's day two of wimbledon roger federer will be playing on centre court serena williams and rafa nadal get their campaigns under way. we have adam reid joining us there from the tournament to run us through the order of play what can we expect there >> we expect another hugequeuei what's going on on the show courts we can give you some insight as to what will be taking place over here to my left, number one court, the defending women's champion, angelique kerber will be starting her first match, an all-german affair. then the return to what a lot of people say is his court, roger federer will be on court what a day on centre court is

wrapped up by serena williams. that's on centre court as we pan across to see number one court, there's ash barty, the women's number one, joe conte, then rafael nadal will be also taking his turn on that court as well. a huge amount to look forward to between nadal, federer and serena williams, 61 grand slams. not too bad going as it is yes. only one williams sister is left in the draw now. >> why is that what happened yesterday? we had a shock >> absolutely. it's all over the headlines. venus williams is out. the veteran 39-year-old, five-time wimbledon champion but are we seeing a glimpse into the p future as coco golt, she caused

an amazing scene when she beat venus williams in straight sets. it's a great day here. a load of shocks yesterday serena williams, roger federer and roger nadal will hope to get their wimbledon campaigns off to a great start later this afternoon. >> enjoy the games enjoy the sunshine there. let's look at u.s. futures before we go all will be opening lower. the dow jones not looking so positive as yesterday. that's it for the show i'm willem marx in london. "worldwide exchange" is coming iju f mutes my digestive system used to make me feel sluggish

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global headquarters. here is your five at 5:00. president trump says renewed trade talks with china have already begun. china is promising to build an even playing field for foreign companies. a live report from beijing coming up. from one trade deal and fight to another why the u.s. could hit europe with more tariffs and here's a hint, it has to do with a big old jet airliner opec agreeing to extend production cuts. up next, key